Lithium Australia (ASX: LIT) reported on progress on construction of the companys large-scale pilot plant to demonstrate its SiLeach® process at commercial scale.
Oroco Resource Corp. (TSX-V: OCO) is pleased to announce that it has closed the non-brokered private placement financing previously announced by news releases dated April 11, 2018 and April 16, 2018. The Company has raised gross proceeds of $900,000 through the sale of a total of 9,000,000 units at a price of $0.10 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole share purchase warrant will be exercisable into one additional common share for a period of 18 months from closing at a price of $0.16 per share. The exercise period for the warrants may be accelerated to 30 days if, at any time after the first 4 months of the warrant exercise period, the volume-weighted trading average of the Companys shares over a period of 20 consecutive trading days exceeds $0.35.
The resolution to set the number of directors at eight was approved by 99.85% of the votes cast for the resolution. Deloitte LLP, Chartered Professional Accountants were reappointed as Capstone’s auditors for the ensuing year by 84.60% of the votes cast.
Azure Minerals Limited (ASX: AZS) is pleased to report that further metallurgical testwork continues to make significant improvements on the already positive results from its 100%-owned Oposura zinc-lead-silver project.
The net proceeds of the Offering will be used for the Companys continued exploration and drilling programs, to deliver an updated resource estimate and maiden Preliminary Economic Assessment for the Las Chispas Project, and for working capital purposes.
Thomas Atkins, President and CEO of Mammoth commented on these results stating: “We again have intersected some very impressive lengths and grades of gold mineralization at Tenoriba. In the Carneritos area, holes TEN 17-06, 07 and 08 test different targets separated by 180 to as much as 750 metres one from another.
The key objective for Prospero and its strategic partner Fortuna Silver Mines Inc. is to complete first-pass, proof-of-concept drill testing of key projects in the Altiplano belt of northern Mexico. Three projects have been shortlisted: Bermudez, Buenavista and Trias. Bermudez and Buenavista are covered by granted concessions, and Prospero anticipates that the Trias concession should be granted shortly.
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